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Target has announced it will close 133 stores in Canada, with CNBC's Brian Sullivan.
TORONTO, Jan 15- Employees at Target Corp stores in Canada said they were stunned by the U.S. retailer's decision on Thursday to pull out of Canada, believing business had improved after an admittedly disastrous launch less than two years ago. I thought it was getting better, "said one Toronto Target employee who would only give her first name, Lima, for fear of...
Some of Thursday's midday movers:
Target Corp said Thursday it would shut down its Canadian operations, ending long-term speculation over the viability of the struggling business.
TORONTO, Jan 15- Target Corp will abandon its ill-fated expansion into Canada less than two years after launch, the U.S. discount retailer said on Thursday, in a surprise retreat that will put more than 17,000 employees out of work and cost it billions. Minneapolis- based Target, the No. 2 discount chain in the United States, has struggled in Canada since its 2013...
NEW YORK— Stocks are falling in midday trading following disappointing results from Bank of America, Citigroup and other companies. Radio Shack plunged 24 percent Thursday following a report that the struggling electronics retailer could file for bankruptcy. Target rose 2 percent after the company said it would close its stores in Canada.
While the Canada pullout will initially cost Target, it should deliver a long-term benefit to the company's U.S. business.
NEW YORK— Shares of some top big-box retail companies are mixed at 10 a.m.:. Costco Wholesale Corp. fell$. 64 or. 5 percent, to $138.67. Wal-Mart Stores Inc. rose$. 39 or. 5 percent, to $87.00.
TORONTO, Jan 15- Target Corp will abandon its ill-fated expansion into Canada less than two years after its launch, the U.S. discount retailer said on Thursday in a surprise full retreat that will put more than 17,000 employees out of work and cost the company billions in writedowns. Target's shares rose 3 percent in midmorning trading after the company said it...
The Swiss stock market is down about 10 percent after the Swiss National Bank scrapped its cap on the franc against the euro.
We are what we own. Stock portfolio ownership reveals characteristics about age, wealth and politics
"This is the biggest blunder in the history of retail," says CNBC's Jim Cramer discussing Target's plans to exit the Canadian market.
TORONTO, Jan 15- Target Corp said on Thursday it will cease operations in Canada and has filed for creditor protection for its Canadian subsidiary in a surprise move that could put its 17,600 employees in the country out of work. Huge supply chain problems left stores thinly stocked, disappointing shoppers who had eagerly anticipated the retailer's move into...
MINNEAPOLIS— Target is giving up on its money-losing foray into Canada after just two years, closing 133 stores and cutting loose more than 17,000 employees. And Wal-Mart Stores Inc., already the biggest retailer in Canada, cut prices to fend off Target. Other retailers have had similar problems in Canada.
Jan 15- Best Buy Co Inc, the largest U.S. consumer electronics chain, said it expects same-store sales growth to be flat to negative in the first two quarters of its fiscal year starting February, citing low demand for computers and tablets. Best Buy's shares fell 8 percent to $36.74 in premarket trading on Thursday. The Alliance for Main Street Fairness, which...
NEW YORK— Disappointing results from Bank of America and Citigroup tugged the stock market to its fifth straight loss Thursday. Weak revenue from trading pulled down Bank of America's profit 11 percent in the fourth quarter. The stock market's fall is likely to prove temporary, another pause in a long climb higher, said Henry Smith, chief investment officer at...
Costco Wholesale Corp. fell $1.78 or 1.3 percent, to $139.31. Target fell $1.62 or 2.1 percent, to $74.33. Wal-Mart Stores Inc. fell $2.70 or 3.0 percent, to $86.61.
NEW YORK, Jan 14- Surging U.S. stock-market volatility ahead of the earnings season is leading traders to lock in some gains in some big-cap companies that recently hit all-time highs, strategists said on Wednesday. Investors have grown worried about weak global growth and falling commodities prices, and drops in the S&P 500 stock index reflect that concern.
NEW YORK— Shares of some top big-box retail companies are down at 1 p.m.:. Costco Wholesale Corp. fell $2.36 or 1.7 percent, to $138.73. Wal-Mart Stores Inc. fell $2.43 or 2.7 percent, to $86.88.
NEW YORK— Shares of some top big-box retail companies are down at 10 a.m.:. Costco Wholesale Corp. fell $1.02 or. 7 percent, to $140.07. Wal-Mart Stores Inc. fell $1.01 or 1.1 percent, to $88.30.